In a report released yesterday, Dalton Baretto from Canaccord Genuity maintained a Buy rating on First Quantum Minerals (FQVLF), with a price target of C$10.00. The company’s shares closed last Monday at $6.13.
According to TipRanks.com, Baretto is a 4-star analyst with an average return of 5.6% and a 48.4% success rate. Baretto covers the Basic Materials sector, focusing on stocks such as Turquoise Hill Resources, Fortuna Silver Mines, and Hecla Mining Company.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for First Quantum Minerals with a $8.30 average price target, which is a 33.4% upside from current levels. In a report issued on April 16, Barclays also upgraded the stock to Buy with a C$10.00 price target.
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Based on First Quantum Minerals’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $1.28 billion and GAAP net loss of $115 million. In comparison, last year the company earned revenue of $1.05 billion and had a net profit of $198 million.
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First Quantum Minerals Ltd. engages in the production, exploration and development of copper, nickel, gold, zinc and acid, and related activities. It operates through the following segments: Kansanshi, Sentinel, Cobre Panama, Las Cruces, Guelb Moghrein, Çayeli, Pyhäsalmi, Ravensthorpe, and Corporate and Other. The Corporate and Other segment deals with the evaluation and acquisition of new mineral properties, regulatory reporting, treasury and finance, and corporate administration. The company was founded by Philip K.R. Pascall, Geoffrey Clive Newall, and Martin R. Rowley on December 21, 1983 and is headquartered in Toronto, Canada.
